All About Home Loan Eligibility In India

Unlike many developing and developed nations, India has recorded a growth in its real estate industry. Thanks to government’s long-term massive infrastructural projects, the metropolitan and Tier- 1 cities are extending its borders. So, there is no scarcity of land for the development of commercial and housing projects. The demand for both types of properties is continually growing in metropolitan cities like New Delhi, Kolkata, Mumbai etc. Owing to better employment opportunities, people are shifting their bases here in these cities. Consequently, the demand for real estate properties in Kolkata and other cities is increasing. Banking and home loan financiers do not want to lose this opportunity. Thanks to consumer-friendly decisions made by the Union finance minister and RBI, the interest rates of home loan are declining.

Criteria for home loan eligibility for buying real estate properties in Kolkata

The criteria for home loan eligibility differ for different banks or lenders. Home loan approvals are dependent on the incomes of borrowers, their credit profiles and existing relationships with the lending institutions.


Minimum Age: 21 yrs

Maximum Age: 65 yrs (depending on employment type)

Minimum Amount of Net Annual Income

Rs 5 to 7 Lakhs (depending on employment type)

Employment Type

Salaried or Self-Employed

Employment Status

Regular employment at least for last 1 year; at least 3 years of employment years in total (without any gap)

Residence Type


Residence Status

Current place of stay for last 1 year

Credit Rating

Higher ratings offered by recognised credit bureau

Type of Property to be Purchased

It affects the eligibility for loan amount

Requisite Documents for Home Loan Application

  • Photograph affixed signed applications
  • Proof of Identity: Voter ID/ Passport/ PAN Card
  • Proof of Residence: Voter ID/ Passport/ Driving License/ Electricity Bill/ Water Bill/ Lease Agreement
  • Proof of incomes
  • Salaried: Previous 3 months salary slips/ Current Salary Certificate
  • Self-employed: Previous 3 to 6 months bank statements/ Audited financial statements
  • Proof of Tax
  • Salaried:/strong> Latest copy of Form 16
  • Self-employed: Latest copy of ITR Form
  • Proof of Employment
  • Salaried: Employment certificate
  • Self-employed: MOA/Partnership deed etc. The documents proving the establishment of business
  • Property documents
  • Cheque for the Processing Fee
  • Documentation of co-applicant

The good thing is that every home loan financier has a ‘Help Desk’ for discussing the details. You can approach them for receiving proper insights. Apart from that, the legal cell of new age home builders like ‘Realtech Nirman Pvt. Ltd.’ offers all possible assistance in hassle-free procurement of home loans to its customers. If you have the will and the might to buy a real estate properties in Kolkata, the time is now. Explore the possibilities of a growing home loan market. Apply for a home loan, book an apartment and buy it!